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DGAP-News: NANOGATE SE / Key word(s): Insolvency/Disposal
Nanogate SE divests Nanogate Textile & Care Systems GmbH
Göttelborn, Germany, May 20, 2021. Nanogate SE has successfully divested its subsidiary Nanogate Textile & Care Systems GmbH as part of a management buyout.
The subsidiary develops, manufactures and sells products primarily in the shoe and textile care sector. As part of the Group's restructuring strategy, it is no longer part of the core business. The buyer is Benzy Verwaltung GmbH, whose managing partners Holger Zytur and Salah Bendjaballah are long-standing managers at Nanogate Textile & Care Systems GmbH. The current six employees will continue to be employed by Nanogate Textile & Care Systems GmbH. In the future, the Nanogate Group and Nanogate Textile & Care Systems GmbH will work closely together, for example in the area of production. The transaction will take economic effect on 1 January 2021. The purchase price will be used to service claims by secured bank creditors of Nanogate SE as part of the ongoing insolvency proceedings in self-administration.
Nanogate SE had already agreed to sell significant parts of its core business to the US-based Techniplas Group on 8 May 2021 (see announcement dated 8 May 2021). Furthermore, negotiations regarding the sale of Nanogate Electronic Systems GmbH are still ongoing.
Christian Dose/Susanne Horstmann | WMP EuroCom AG
Nanogate SE | Zum Schacht 3 | 66287 Quierschied-Göttelborn
Nanogate is a leading global technology company for design-oriented, multi-functional components and surfaces. Nanogate develops and produces design-oriented surfaces and components and enhances them with additional properties (e.g. non-stick, scratch-proof, anti-corrosive). Nanogate services many of the largest, global blue-chip automotive customers. Nanogate filed for insolvency in self-administration (protective shield proceedings) in June 2020 and agreed to sell significant parts of its core business to the US-based Techniplas Group in May 2021.
This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Nanogate SE (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). No offer or sale of transferable securities is being made to the public.
20.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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